To: Albert Martin who wrote (3332 ) 4/21/1998 1:57:00 AM From: Cary C Read Replies (1) | Respond to of 29382
SNRS.... Hello Albert, nice to hear from you again. SNRS has huge potential. I can't help but wonder if some emotional exuberance is going on right now though. A quick look at the last quarterly report draws some concern with this statement >>The Company has incurred substantial losses in the past six years which have seriously depleted its working capital. Sales of its existing ophthalmic products at current levels will not be sufficient to sustain the continued development and regulatory licensing of the LTK system. The Company has been able to raise additional working capital for all aspects of its business through the private placement of its common stock and convertible notes with warrants. These private placements raised $15,296,000 in 1994, 1995 and 1996 in new equity for the Company and $3,700,000 from the 1997 Notes Placement. The Company recently completed the 1998 Note Offering that raised $9,300,000, net of offering costs. If the Company is unable to obtain additional working capital, it may be forced to substantially curtail its activities and could, under certain circumstances, be forced to eliminate or suspend operations. << If the technology and trials are as successful as some are predicting I don't really see the above being an issue. It does cause one to pause however or should. If you are confident about the technology and possibilities, based on the current stock price, I would look more long term and be looking to buy on dips. I didn't really get a good feel for this one and probably couldn't without talking to management. Don't know if any of the above helped or not. Did you by chance buy any EATS or AIRM? These two along with May calls on DHI are making my portfolio very lopsided. Last time my portfolio was this lopsided was with APCO. If it turns out like APCO did, I will be very happy. They both have great fundamentals. Cary